Capasso Planning Partners LLC Lowers Position in Abbott Laboratories (NYSE:ABT)

Capasso Planning Partners LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,322 shares of the healthcare product maker’s stock after selling 852 shares during the period. Capasso Planning Partners LLC’s holdings in Abbott Laboratories were worth $376,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment boosted its holdings in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 41,557 shares during the last quarter. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the 4th quarter worth $26,000. NewSquare Capital LLC boosted its holdings in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Abbott Laboratories during the fourth quarter valued at $29,000. Finally, Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the third quarter worth $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 3.5 %

Shares of ABT opened at $132.57 on Wednesday. The firm has a market capitalization of $229.91 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The business’s fifty day moving average price is $126.23 and its two-hundred day moving average price is $119.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. During the same quarter last year, the business posted $1.19 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Analysts Set New Price Targets

Several analysts recently weighed in on ABT shares. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Evercore ISI upped their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company upped their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Barclays reaffirmed an “overweight” rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 over the last quarter. 0.47% of the stock is owned by company insiders.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.